The Russian economy suffers “serious blows”, according to the Kremlin

(The Hill) – A Kremlin spokesman said on Wednesday that Russia’s economy was taking “serious blows” amid sanctions imposed by foreign governments as Moscow continues its attack on Ukraine.

“The Russian economy is taking a serious hit,” Kremlin spokesman Dmitry Peskov said in a call with foreign reporters, according to CNN.

“But there is a certain margin of safety, there is potential, there are plans, works are in progress,” he added.

Peskov’s remarks came after a question about a comment made by President Biden during Tuesday night’s State of the Union address.

“The Russian economy is in shock and Putin is solely to blame,” Biden said in his speech.

The president also claimed that the sanctions in place against Russia have so far contributed to a 30% loss in the value of the ruble and a 40% loss in the value of the Russian stock market in less than a week. .

Since Moscow’s invasion of Ukraine, Western countries have imposed severe sanctions on the country.

On Tuesday, Biden announced that the United States would close American airspace to all Russian flights, following similar action by the European Union and Canada.

Biden said the move would help “further isolate Russia — and add further strain — to its economy.”

The United States has also imposed other sanctions, including the expulsion of some Russian banks from SWIFT, a major international banking system. The United States also promised to impose measures to prevent the Russian Central Bank from undermining sanctions and strengthening the ruble using its reserves.


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